Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: cpt :: TDS :: empanelment :: VAT RATES :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD
 
 
Service Tax »
 GST Return Filing: How to handle discounts and additional cost
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all
 Goods and Services Tax was not an easy reform to implement

No service tax from CAG, says CBEC; reverses earlier stand
June, 28th 2012

In a U-turn, the Central Excise has reversed its stand on levying service tax on the Comptroller and Auditor General (CAG) saying it does not come under the business support service ambit.

The new circular issued by the Tax Research Unit (TRU) of CBEC on June 19 says, "CAG would not be covered by the service head Business Support Service."

The new circular comes just 22 days after the chief commissioner of service tax wrote to all the Commissioners of Central Excise and Service Tax (on May 30), saying "CAG was not discharging its service tax liability all over India against the services provided by them and had defaulted Rs 33 lakh of tax."

Later, another circular was issued on June 6 stating, "no action should be taken till further orders by the Board".

"A doubt has been raised whether service tax is leviable on the audit fees collected by the CAG for conducting directly audit of corporations.

"Reportedly some field formations are inclined to take a view that such 'audit fee' collected by the CAG is leviable to service tax under the authority of the inclusive portion of the definition of 'practising chartered accountant'...", read the recent circular.

The circular added that services of CAG are not as rendered by a chartered accountant even though both may be engaged in auditing.

The scope of work of the CAG goes far beyond that of a statutory company auditor and is often carried out by persons who may not be professional chartered accountants, it states.

"It is evident that this circular has clarified that the new service was meant to capture such services as are ordinarily outsourced by business entities. The audit activity is not an outsourced function but is carried out in statutory fulfilment of duties. Thus the services by CAG would also not be covered by 'Business Support Service'," the June 19th circular said.

The circular issued on May 30 had said enquiry conducted so far has revealed that the office of auditor general (Audit II), Nagpur is conducting audit of accounts of certain Central Public Sector undertakings, statutory corporations, autonomous organisations and collecting fees/charges from them for the same.

"Preliminary enquiry reveals that they have received Rs 3.3 crores (approx) from three organisations in last five years for providing services, but have failed to pay Rs 33 lakh as tax on services provided by them," the letter had said.

Further, the letter had also said it has been noticed that the commercial audit by the AG's office Nagpur is conducted only in a few cases and major activities are being undertaken in metro cities.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions